In July, Hyperliquid's global trading volume reached an all-time high of nearly $320 billion, an increase of about 47% from June's $216 billion, and an increase of about 28% from May's record monthly high of $248 billion. Throughout July, Hyperliquid maintained a market share of over 75% in the perpetual contract (perps) DEX space.
In addition, the Hyperliquid/Binance ratio (which measures the ratio of perps volume to Binance volume on Hyperliquid) also hit a new high of 11.89% in July. As a reference, Binance's July perps volume was around $2.59 trillion, up about 35% month-on-month.
On the other hand, Drift, a decentralized exchange for perpetual contracts on the Solana blockchain, saw a 336% month-on-month increase in trading volume, surpassing $14.80 billion in July.
Hyperliquid trading volume hits record high in July, approaching $320 billion
2025-08-04 20:38:03
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